Ray Company provided the following excerpts from its Production Department's flexible budget performance report.
(Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Required:
Complete the Production Department's Flexible Budget Performance Report.
Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Actual
Spending
Flexible
Activity
Planning
Results
Variances
Budget Variances Budget
Labor-hours (q)
9,490
9,010
$\nDirect labor
q)
140,625
137,605
$\nIndirect labor
(
+
$\n1.00 q)
3,670 F
16,920
$\nUtilities
(
6,600
+
q)
1,460 U
384 U
Supplies
+
q)
4,954
4,454
13,808
4,310
Equipment
depreciation
$(
78,650)
0 None
0 None
Factory
administration
$\n18,720
$\n+
1.00 q)